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As President of RiskSpan, Bernadette leads the company’s strategy for solutions, sales and operations. Prior to RiskSpan, she was the founder of a boutique 20 person consulting firm where she led its growth and delivery of services focused on risk management, financial modeling and analytical support to issuers and investors in structured credit assets.
Bernadette has over 20 years of experience in financial services, conducting and managing a combination of business and information technology initiatives. Through her career, she has supported many of the nation’s largest private financial institutions, Government Sponsored Entities and the Federal Government. Her knowledge of the industry spans from mortgage origination, servicing, capital markets and investor activities. Bernadette also spent ten years with KPMG’s Mortgage and Structured Finance Practice providing strategic research, operational and financial advisory services to clients. While with KPMG, she was responsible for managing multiple complex projects and providing business and technical support to various clients. Bernadette started her career at Prudential Insurance Company. She is a respected expert on mortgage related issues and has authored several articles and published many research studies for a variety of clients. Bernadette received a B.S. in Finance from Villanova University and an M.B.A. from Seton Hall University.
Joe leads RiskSpan's Valuation and Pricing Services serving investors of fixed income securities and whole loan assets. RiskSpan offers a suite of solutions and advisory services that include: Valuation, Risk Management, Surveillance, Portfolio Analysis and Data Management.
He has served on the RiskSpan Board of Directors since co-founding the company in 2001. Joe led the design and launch of RiskSpan's flagship product Velocity -- a web based analytic solution that combines INTEX deal library, loan level data and flexible prepayment and credit models. Velocity is used by top tier hedge funds, banks, credit unions and fund administrators. Prior to founding the company, Joe was a Managing Director at UBS responsible for CMO and Mortgage Derivative Trading. Prior to UBS, he was a senior mortgage trader at Greenwich Capital Markets and Credit Suisse First Boston. He holds a B.S. in Chemical Engineering and Bioengineering from UC San Diego and an M.B.A. from the Anderson Graduate School of Management at UCLA.
Suhrud is the co-founder of RiskSpan and has more than 20 years experience in developing analytical tools to support bond and securities trading. Prior to RiskSpan, he had a successful Wall Street career which included Head of Analytics and Model Development for UBS, Head of System & Analytics at Greenwich Capital in the mid ‘90s and he started his securities career at Reuters.
Suhrud has developed pricing models for MBS, created a database to assist in prepayment model development, implemented risk management reports for a CMO desk, and modeled CMO deals in INTEX. He supported derivative MBS by developing analytical models and tools and has designed and implemented a security backbone to support a reporting system for risk management of trader portfolios. At RiskSpan, he developed the analytical framework and prepayment and credit models as well as market monitoring tools. Suhrud has also provided advisory services in the area of portfolio valuation. He is a well known industry speaker given the innovative steps he has taken throughout the credit cycle. Suhrud earned an M.S. in Computer Science from Pennsylvania State University and a B.S. in Electrical Engineering from VJTI, Bombay India.
Brad Davis joined RiskSpan in 2013 in the role of Managing Director. Brad specializes in capital markets, structured finance, product development, securitization, and corporate trust services. With 22 years experience working for the nation's largest mortgage lender and its predecessor companies, Brad offers tremendous insight into the full secondary mortgage market lifecycle.
At RiskSpan, Brad leads business development efforts and manages consulting engagements. Brad is a savvy and results-oriented trusted advisor who has detailed private label securitization knowledge and unsurpassed experience built in the mortgage field. In addition, Davis has led Agency related development projects and served as an expert on Securities and Exchange Commission requirements.
Allen joined RiskSpan in 2010 as Managing Director of RiskSpan's Federal Services Consulting Practice in Washington, DC. In this capacity, Jones manages the firm's government Housing contracts, serves as an advisor to policy makers in the nation's capital, and manages all corporate messaging and social media.
Jones has over 25 years of experience in mortgage lending and housing finance, particularly related to FHA, VA, RHS, and Ginnie Mae. Jones most recently served at Bank of America (BOA), hired in 2004 as BOA’s Government Lending Executive where he managed the build-out of the FHA and VA businesses. He was subsequently named BOA’s executive for Default Management Public Policy and National Outreach. In this role, he testified before the United States Senate Banking Committee and the Troubled Asset Relief Program (TARP) Congressional Oversight Panel on BOA’s loss mitigation practices. Previously, Allen worked for the U.S. Department of Housing and Urban Development (HUD) as Senior Advisor to the Federal Housing Commissioner and as Special Assistant to the Deputy Assistant Secretary for Single Family Housing. At Freddie Mac, he managed the development of Freddie’s automated underwriting systems for FHA and VA Loans. In addition, Allen worked at KPMG Consulting, where he managed the FHA’s TOTAL scorecard development. A 1985 graduate of the University of Richmond, he has also served on the Board of the Virginia Housing Development Authority and has authored numerous articles for Mortgage Banking magazine.
Pat currently leads the consulting and advisory services practice of RiskSpan. He has provided financial model validation support to multiple RiskSpan clients whose business practices rely on credit models, interest-rate models, prepayment models, income simulation models, counter-party risk models, whole loan valuation models, and bond redemption forecasting models.
Pat is an experienced executive who has been responsible for the management of an asset securitization program for a national financial institution. He has experience in the development and implementation of business unit objectives, management of a $4 million operating budget, and the oversight and monitoring of service levels with legal resources, accountants, and other financial institutions that supported an industry leading asset sales program. Pat is a skilled manager experienced in the development of business strategy that leads to business process change and technology implementation. He is a graduate of the United States Naval Academy and received an M.B.A. from Loyola College in Baltimore, Maryland
Cindy leads RiskSpan engagement teams in operational risk assessments; strategic planning, design and implementation of business transformation and other change management initiatives; and assessment, design and implementation of internal controls.
Previously, Cindy worked at Fannie Mae in a number of different capacities, most recently as Director of Strategic Planning – Business Transformation for the Credit Loss Management division. In this role, her team designed and launched the HomePath® marketing strategy for the $14.9B real estate owned portfolio which included a B2C website, www.homepath.com, HomePath Mortgage® products, and quarterly marketing campaigns. She was also responsible for the development and implementation of a comprehensive REO training program which included the development of the first formal REO Sales Guide for managing and marketing Fannie REO inventory. Prior to her REO responsibilities, she led specialized teams in the development of the Operational Risk and SOX infrastructure for Fannie Mae’s Single Family Mortgage Business and developed innovative eMortgage products within Fannie Mae’s eBusiness division. Earlier in her career, she was a manager with BearingPoint Financial Services and she held positions in Internal Audit for Banking and Mortgage institutions as well as led teams in FHA Servicer Operational and Foreclosure Claims Reviews. Cindy holds a B.S. in Accounting from University of North Carolina, Wilmington, is a Certified Internal Auditor and is a trained Lean Six Sigma Black Belt. She is also an inventor of two patents designed to facilitate process improvements in the mortgage industry: Patent No. 7,974,918, Credit Risk Framework; and Patent No. 8,078,512, Document manifest and publication in association with dataset quality control.
Patricia joined RiskSpan in 2005 and is responsible for business and staff development and engagement management. Her expertise is in developing reports for executive management related to finance and accounting matters. Clients are largely Banks and financial services companies.
Patricia leads engagements in the areas of finance and accounting including valuation of assets using fair value methodologies, mortgage servicing rights valuation and policies, securities and whole loan valuations. She assists clients to develop and document appropriate discount rates for valuation and prepare audit ready documentation. In the finance area typical engagements include data cleansing and analysis, modeling, validation of financial and credit models, development of pricing models, servicing enhancement strategies and benchmarking. Patricia has over 20 years of wide ranging professional experience from Investor Relations to Accounting and Financial Management. She has worked for a GSE, a conglomerate, and various public companies. Her Capital Markets experience includes performing due diligence and company valuations, working with investment banks on corporate restructuring and conducting road shows for IPOs. She has been an oversight and voting member of an Investment committee that managed a large portfolio of RMBS and a member of a GSE Pricing Task Force. Prior to GSE employment she worked for Deloitte & Touche where she managed a variety of public and private sector engagements. She received a B.A. in Economics and a B.A. in English from Boston College and an M.B.A. from Georgetown University. She volunteers for non-profit and foundation boards and serves as a volunteer Treasurer.
William (Bill) Vahey is a Managing Director in RiskSpan’s advisory services practice. Bill leads business development efforts across the mortgage lifecycle with a specialty in capital markets, multi-family, and securitization.
Bill has held previous executive positions at KPMG, where he was a CPA and Senior Manager and spent 8 years in the firm's National Mortgage Banking Practice, as well as with Wachovia and Wells Fargo, where he spent 13 years, in a variety of leadership roles. Most recently, Vahey served as Head of Syndicated REO in Wells' Special Situations Group and also worked as a consultant at BlackRock.
Scott leads the development of RiskSpan’s proprietary credit models for residential and commercial mortgages. The credit models are used in the RiskSpan’s pricing service, which prices over $200 billion of securities for different investment firms, as well as in whole loan valuations for different clients.
Through various consulting engagements, Scott has helped a diverse set of institutions measure and mitigate their credit risk. He led the development of a loan loss allowance process for a bank with a multi-billion dollar mortgage portfolio and helped its loss mitigation team measure the effectiveness of their loan modification programs. He has also helped build credit and prepayment models used by the federal government to evaluate portfolio risks. And he designed and manages the quarterly NRMLA Reverse Mortgage Market Index that estimates market potential for reverse mortgages. Prior to joining RiskSpan, Mr. Anderson worked in Capital One’s Strategic Finance group, which evaluated the firm’s business line performances and strategic options from a risk and market perspective. Prior to working for Capital One, Scott was a research associate at the Urban Institute, a public policy think tank. Scott received his A.B. in Economics from Princeton and his M.B.A. with a concentration in Analytic Finance from the Chicago Booth School of Business, both magna cum laude.
Derek joined RiskSpan in 2008 to oversee the daily company finance and operations functions as well as lead key consulting client engagements. Prior to RiskSpan, he assisted in the formation of a boutique risk management and analytics consulting firm, Hollister Group, which was named in 2007 as one of “INC Magazine's Top 500 Fastest Growing Private Firms.”
During his career, he has supported many large and small private institutions and federal agencies by conducting and managing business and technology initiatives to include data and cash flow model development, asset valuations, assumption development and benchmarking, business requirement and documentation development and internal controls mapping. Derek began his career at KPMG Consulting and KPMG LLP in the Structured Finance Group where he supported and led engagements in areas of data and cash flow analytics and modeling, due diligence, risk analysis, and business-technology integration. Derek holds a B.S. in Engineering Science and Economics with a Minor in Management of Technology from Vanderbilt University and an M.B.A. from the University of Florida.
Tom has more than 16 years of broad experience in the securitization, mortgage finance, mortgage operations and retail banking industries, delivering business process re-engineering, internal controls review and program and project management services to clients.
At RiskSpan, Tom has worked as a manager supporting multiple clients with business process analysis, control reviews, end to end business process documentation (work flow diagrams/ Visio), financial model validation and development of model risk management policies. As a lead business process/ internal controls manager, Tom’s tasks include reviewing procedural and technical documents, interviewing subject matter experts, leading group work sessions, documenting cross functional processes, identifying procedural and internal control gaps, recommending system, process and control enhancements and assisting with implementation plans based on recommendations. Prior to joining RiskSpan, Tom was a Program Manager at Freddie Mac, managing a team of project managers and communicating cross-divisional project dependencies, issues and risks to senior leadership. Tom also managed the documentation and implementation of process improvements to the firm’s monthly Disclosure Analytics reporting package. Tom was previously a Senior Consultant with BearingPoint where he was responsible for developing business requirements and system testing for a variety of clients. Tom began his career in retail banking, gaining extensive experience in mortgage, auto and personal lending as a retail branch manager and loan officer. He holds degrees in Finance and History, as well as an M.B.A. from The Mason School of Business at The College of William and Mary.
Tim manages a range of client engagements, with a recent emphasis on vendor management and other forms of operational risk consulting and financial model validation. He has validated financial models for seven Federal Home Loan Bank institutions.”
These models include proprietary counterparty credit risk, collateral valuation, income simulation and OTTI models, as well as S&P LEVELS, Kalotay’s Relative Value Analysis and BondCaller models, and the Algorithmics Suite Risk Application. He also manages many of the day-to-day operations of RiskSpan’s growing foreclosure attorney audit practice. His engagements frequently delve into issues of counterparty risk at both the private and federal government (FHA and Ginnie Mae, specifically) levels. Prior to joining RiskSpan, he was a senior manager of business consulting and analytics at First American Corporation, where he developed strategies for coordinating the offerings of recent corporate acquisitions and for bringing new initiatives and product solutions to market. He also authored and presented thought-leadership white papers on digitizing and streamlining the mortgage loan origination process and achieving end-to-end data integrity. At Fannie Mae, he helped develop an electronic mortgage application and was responsible for much of the quantitative and statistical analysis behind Fannie Mae’s 2001–2005 origination cost, profitability and productivity benchmarking studies. Prior to working for Fannie Mae, he was a senior consultant at KPMG Consulting where he performed operational reviews, performance benchmarking, cash flow modeling, due diligence work, and compliance audits. He holds a B.A. from Brigham Young University and an M.B.A. from George Washington University.